S. Korean economy burdened by slow employment, external factors

[THE INVESTOR] South Korean economy continues to be plagued by a sluggish labor market despite improving domestic spending, the Ministry of Strategy and Finance said in a report on July 8.According to the report, consumer spending is on the rise, but the rate at which employment is rising has dropped and industrial output has yet to recover fully.  Job fair sponsored by a South Korean companayThe ministry also said that UK’s departure from the European Union and other domestic and international

July 8, 2016

Sampyo mulls IPO to repay debt

[THE INVESTOR] Sampyo, South Korea’s No. 2 ready-mixed concrete manufacture, plans to get listed to recoup its investment on the acquisition of Tong Yang Cement last year, sources said on July 8. “We are considering an initial public offering to improve our financial health in the long term as economic conditions in the construction industry are projected to deteriorate,” an official at Sampyo said.  SampyoAccording to investment bank officials, Sampyo sent out a request for proposals to brokera

July 8, 2016

GE Capital’s sale of Hyundai Capital stake to be decided in July

[THE INVESTOR] GE Capital will decide on the sale of its stake in Hyundai Capital Services within July, industry sources said on July 8. GE Capital currently holds 20 percent of Hyundai Motor Group’s financing arm. The US firm plans to unload the shares, and with no buyer appearing, GE Capital had planned to exercise the put option and resell to Hyundai Motor Group.Based on the most recent transaction regarding Hyundai Capital Services’ shares, its stake is likely to cost around 700 billion won

July 8, 2016

FTC refuses to delay decision on SK-CJ merger

[THE INVESTOR] The Fair Trade Commission has refused CJ HelloVision’s request to delay its decision on the planned merger and acquisition deal with SK Broadband, an IPTV firm run by SK Telecom. FTC officials told Herald Business and The Investor that they would not be pushing back the schedule.  Last week, the regulator handed down a preliminary decision to CJ and SK, saying that it opposes the merger, as it could hamper fair market competition by unleashing an excessively-dominant player. CJ an

July 8, 2016

CJ HelloVision asks watchdog to postpone decision on M&A with SK Broadband

[THE INVESTOR] Cable TV operator CJ HelloVision has sought the antitrust regulator’s permission to delay a meeting for deciding on its planned merger and acquisition deal with SK Broadband, a local IPTV firm.To that end, it also said it would like to delay submitting a report on the matter. “We have asked the Fair Trade Commission to postpone its July 15 standing committee meeting by a month, and the report deadline to Aug. 4,” CJ HelloVision said in a statement, stressing that the schedule is t

July 8, 2016

Haier, CJ, Cuckoo may bid for Tongyang Magic

[THE INVESTOR] China’s Haier and Korea’s CJ and Cuckoo are surfacing as likely bidders to acquire Tongyang Magic, a local appliance maker whose key business is water purifier rental service. Toyang’s largest shareholders Glenwood Private Equity and NH Private Equity, both based in Korea, plan to send information memorandum to possible bidders next week with aims to start the bidding process from later this month. According to industry sources, Tongyang had long gauged its entry into the Chinese

July 8, 2016